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SOL / WRAPPED MATIC on Polygon (0x898386DD8756779a4ba4f1462891B92dd76b78eF) in USDSOL / WRAPPED MATIC on Polygon (0x898386DD8756779a4ba4f1462891B92dd76b78eF) in USDSOL / WRAPPED MATIC on Polygon (0x898386DD8756779a4ba4f1462891B92dd76b78eF) in USD

SOL / WRAPPED MATIC on Polygon (0x898386DD8756779a4ba4f1462891B92dd76b78eF) in USD

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SOLWMATIC_898386.USD trade ideas

Solana’s breaking above an invh&s that’s also a right shoulder Priceaction is currently above the neckline of this daily chart inverse head and shoulder pattern on solusd with one daily candle close above the neckline so far. Should it trigger the breakout the measured move target is $135 which would put price action above the neckline of a much bigger weekly chart inverse head and shoulder pattern’s neckline. The measured move breakout target for that larger invh&s. Pattern would be around $242. Last October we saw the Dow Jones Industrial chart also start to break above a big inverse head and shoulders pattern that also had a right shoulder which was it’s own smaller inverse head and shoulders pattern just as we are seeing come to fruition now on the Solana chart. We must remember on that chart we had an initial fakeout above both necklines around July so there’s always a chance the initial break above the necklines for this solana chart starts as a fakeout too. However since then, The DJI chart has hit the target of it’s smaller inv h&s target and is very close to hitting its bigger inv h&s target so I’d say using that as a precursor, probability is rather high for solana to also hit both of its breakout targets within the coming months. *not financial advice*
COINBASE:SOLUSD
by DrDovetail
12
Solana - Wyckoff Mark Up ExampleSolana vs. Wyckoff Logic SOLUSD example of mark up in the Wyckoff logic schematic. If unfamilar, there are market phases according to Wyckoff Logic: Accumulation: The phase where the market stops falling and begins to form a base, suggesting that demand is starting to overcome supply. It is characterized by a selling climax, where the price falls sharply, and the volume is high, indicating panic selling. After the climax, there is typically a phase of sideways movement, with occasional tests of the lows. This phase is labeled as the cause, setting up for a new upward trend (effect). Markup: After accumulation, the price starts to rise, signifying that the market is entering the markup phase. This phase is indicated by a rise in price away from the accumulation zone, often with increasing volume, which is interpreted as the start of a new uptrend. Distribution: This is the phase where the market tops out and is characterized by a buying climax. Supply begins to overcome demand as the "smart money" starts to distribute their holdings to the market. The distribution phase is also labeled as the cause for the subsequent downtrend. Markdown: Following distribution, the market enters the markdown phase where prices start to fall consistently. This phase is shown by a break of support levels with increasing volume, indicating a strong presence of selling pressure. The image also depicts the concept of "Volume" with a histogram at the bottom. The volume bars are colored in red and blue, generally indicating selling and buying volume, respectively. The histogram helps traders identify moments of high or low volume, which can be a sign of the strength or weakness of a particular price movement. Wyckoff's analysis technique is grounded in the study of price action, volume, and time, as they relate to supply and demand. It is a tool for understanding the market's structure and potentially predicting future price movements by identifying the actions of large institutional traders and investors.
COINBASE:SOLUSDEducation
by kingthies
Solana's Price Spikes to a 22-Month High, Outperforming BitcoinSolana ( CRYPTOCAP:SOL ) is up 16% over the past 24 hours to $131, and rose slightly higher above $134 earlier Thursday morning. That’s the highest price that Solana ( CRYPTOCAP:SOL ) has seen since April 2022, and represents a 26% leap over the past seven days. By comparison, Bitcoin ( CRYPTOCAP:BTC ) is actually down less than 1% over the last day to a current price just under $62,400, but has climbed 21% over the past seven days. Ethereum, meanwhile, is flat today at $3,450, but up 16% in the last week. Meme coins on Solana are similarly soaring, thanks in part to the broader market boom and likely Solana’s own accelerated climb. Leading Solana meme coin Bonk ( SEED_DONKEYDAN_MARKET_CAP:BONK ) has more than doubled in price over the past week, up 104% to a price of $0.000024 at present—a 48% spike in just the last 24 hours. And WIF, aka Dogwifhat—a coin based on a meme image of a dog wearing a hat (yes, really)—has jumped 156% this week to $0.82, and set an all-time high above $0.88 early Thursday. With these latest spikes, BONK has a market cap of nearly $1.6 billion, making it the 64th biggest coin by that metric, while WIF’s market cap has spiked to $823 million. Why is SOL pumping? As Bitcoin goes, so too do most major altcoins—and Bitcoin is absolutely booming of late. CRYPTOCAP:BTC nearly hit $64,000 on Wednesday, marking the highest price seen for the leading coin since 2021. At that point, it was also just 12% away from the all-time high price just above $69,000 from November 2021. What’s driving Bitcoin’s resurgence and potentially impacting the rest of the market? Bitcoin has seen sizable gains in recent months due in part to the approval and adoption of spot Bitcoin exchange-traded funds (ETFs) in the United States. They allow traders to gain exposure to Bitcoin without holding the actual asset. Billions of dollars are flowing into such funds, and the fund operators are thus buying up loads of BTC to support those funds. On top of that, excitement over the next Bitcoin halving—upon which mining rewards are cut in half, slowing the production of new BTC—may be driving gains ahead of the expected mid-April event. SOL may be a leading beneficiary of these Bitcoin events, but the Solana ecosystem has seen its own substantial growth and renewed optimism in recent months. The cryptocurrency fell as low as nearly $8 in December 2022 following the collapse of FTX, but has rebounded dramatically since. It’s up 468% in the last year alone.
COINBASE:SOLUSDLong
by DEXWireNews
SOL breakout imminent?The Solana chart bears a striking resemblance to Ethereum's pattern during the previous cycle, which underwent a correction lasting just over 100 days. Presently, we find ourselves approximately 60 days into this correction; however, there's a notable difference. We are on the cusp of a potential breakout, and if we manage to surpass the $117 mark, there's a strong possibility of a swift ascent to $150 or more within a relatively short timeframe. The dynamics suggest a promising trajectory, and breaking this key resistance level could pave the way for a substantial upward movement in the Solana market
COINBASE:SOLUSDLong
by treesway
Potential SOLANA Long SetupSolana has had an amazing run from its bear market lows at around $8 to the current 2023-2024 local top at $126.5. SOL has been consolidating in a Bullish Pennant for the past 62 days, holding and bouncing off the 0.382 FIB Retracement level on the measure move from $8 to $126.5, and with BTC posturing for a pump to $54.5K... SOL should follow suit and pump up to create a new local high. I am loading up a SOL swing trade long here between $100 and $105 SOLANA. The upside targets are the .0382, 05, and 0.618 Fibonacci Trend Based Extension levels on the measured move from $8 to $126.5 to $78. If BTC sustains a pump to $54.5... SOL should follow behind and meet these areas of interest for take profit levels. The immediate levels of entry at the 0.382 and 0.5 are where I will be taking heavy profits. ENTRY $100-$106 TAKE PROFIT LEVELS: 0.382 ($123) , 0.5 ($137), 0.618 ($150) Fibonacci Extension Levels Highlighted in White. STOP LOSS: $99.8 (roughly 6% below entry if you enter at $105-$106) I recommend moving stop loss to entry once take profit level 1 is hit at $123, to protect profits and working capital. I am swing trading this position on SPOT with no leverage and no stop loss, if the trade goes against me I will simply hold the SOL longterm and send it to my ledger. I am risking only 1% of my spot trading portfolio. This setup offers a great risk to reward proposition. Risk 6% to gain 20-50% roughly on the move up, which again, is contingent on BTC moving up to high time frame resistance at $54.5K. This is not financial Advice. This is an interpretation of my swing long trade setup. A trading journal entry. Mind your own risk.
COINBASE:SOLUSDLong
by junglefamous
5
SOLUSD 1D Corrective to Wave (4)As we embark on this visual journey let us harness the power of knowledge to illuminate our path forward... Together we can unlock the potential within these charts and empower each other to drive impactful decisions and conquer new horizons. Wait until wave C of (4) for entry. Short squeeze to $136 in consideration but not likely. Solana is a blockchain platform designed to host decentralized, scalable applications. Founded in 2017, it is an open-source project currently run by the Solana Foundation based in Geneva, while the blockchain was built by San Francisco-based Solana Labs.
COINBASE:SOLUSDShort
by TheCryptoChartWhisperer
solusdIt is possible that we are in the last rise of this currency in exchange for a major correction coming to it, according to the data shown on the chart. Therefore, do your own analysis and be careful.. Good luck. *In principle, I am not a supporter of any direction, but I am only giving my point of view, which may be right or wrong. If the analysis helps you, then this is for you. If you do not like this analysis, there is no problem. Just ignore it. My goal is to spread the benefit. I am not one of the founders of the currency.
BINANCE:SOLUSDShort
by KhaldHegazy